The Group of 20 leaders ended their summit in London Friday morning with an agreement to spend one-point-one trillion U.S. dollars to overcome the global economic slump.

They also pledged to strengthen regulations on financial markets.

In a joint communiqué, the leaders agreed to boost financial resources available to the International Monetary Fund from the current 250 billion dollars to 750 billion dollars.

The member countries will draw up a one-trillion-dollar program for expanding trade finance while supporting multilateral development banks in their bid to increase lending by an additional 100 billion dollars.

They also agreed to spend an aggregate five trillion dollars on government-sponsored recovery programs by next year, create 19 million new jobs and achieve a four percent growth of the global economy.

But the communiqué failed to include a detailed plan of action.

They will meet again this year to review the implementation of their economic stimulus plans and to discuss supplementary measures.